New Jersey-based utility PSE&G (NYSE: PEG) has received regulatory approval to invest $515 million collected from ratepayers in 80 megawatts (MW) of solar projects.

The New Jersey Board of Public Utilities (BPU) reduced the company's original plans from $773 million for 120 MW, and nixed plans for solar panels on government buildings.

The program, called Solar 4 All, has two segments, each 40 MW in size. If completed, it will double the states current solar power capacity.

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The first segment consists of installing small solar units on 200,000 utility poles in PSE&G's service territory. It will be the largest pole-attached solar installation in the world. The solar units will be connected directly into PSE&G's electric distribution system and the power will be sold into the PJM wholesale grid.